What You Didnt Know About The Psychology Of Forex Market Trading And How It Might Bankrupt You
When it comes to trading on the Forex market, winning is a matter of the mind rather than mind over matter. Any trader whos been in the game for any length of time will tell you that psychology has a lot to do with both your own performance on the trading floor and with the way that the market is moving. Playing a winning hand depends on knowing your own mind and understanding the way that psychology moves the market.
Studying the psychology of the market is nothing new. It doesnt take a genius to understand that any arena that rides and falls on decisions made by people is going to be heavily influenced by the minds of people. Few people take into account all the various levels of mind games that motivate the market, though. If you keep your eye on the way that psychology influences others including the mass psychology of the people that use the currency on a daily basis but neglect to know what moves you, youre going to end up hurting your own position. The best Forex coaches will tell you that before you can really become a successful trader, you have to know...
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